Aston Martin eyes £600million China deal

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Aston Martin president and chief executive officer, Dr Andy Palmer, with representatives of the city of Wuhan in Central China where the car maker has announced it will open a new dealership. Photo: @AndyatAston/Twitter

THE chief executive of Gaydon-based luxury car maker Aston Martin is eyeing a £600million trade and investment drive in China.

Dr Andy Palmer announced the five-year plan during a visit to China by a UK business delegation accompanying British Prime Minister Theresa May.

The company has seen a huge increase in demand for its cars in China and that is expected to grow with the new Vantage and the introduction of the company’s first SUV in 2019.

It will open a new concept city centre showroom in Beijing, and by the end of this year will have ten new and refurbished showrooms in Wuhan, Tianjin, Nanjing and Ji’nan, taking its total more than 20 locations.

Aston Martin China, located in Shanghai, will also be opening a second office in Beijing in the coming months.

Speaking in Beijing earlier today, Wednesday, Dr Palmer said: “Our impressive 2017 performance in China reflects increasing demand for our new and special vehicles.

“The continued roll-out of our new model pipeline, including the company’s first electric vehicle in 2019, will further improve Aston Martin’s market share in this key market, alongside investments we are making to strengthen brand visibility and sales performance.

“These investments reflect our confidence in the Aston Martin brand and the attractiveness of the Chinese market which was our fastest growing region in 2017.”

Mrs May said: “Thanks to the drive and innovation of UK business, backed by this government, trade between the UK and China is already at record levels.

“This visit is an opportunity to further showcase the best of British and boost jobs and prosperity throughout the UK. I am proud to lead such a varied and strong delegation to China.”